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Finance (CFO)

Company Size & Timeframe

  • $25 million in revenue
  • 1-2 days/week, 24 months
  • Interim CIO also in place for 1 day/week, 10 months

  • Results

    • Successful sale of company with credible finances
    • Maximized cash proceeds at sale to owner due to projections and planning
    • Savings in insurance reductions and IT costs
    • Successful banking relationship throughout assignment, with $1 million LOC increase

  • Company Profile & Position

    • Family-owned
    • Interim CFO

  • Situation

    • Bank would not renew LOC, was requiring owner assets
    • Finances were not credible for banking or exit purposes
    • No budget going into busy season
    • No reporting or processes in place
    • Limited bandwidth for owners and executive team

  • Implementation

    • Created interactive cash flow budgeting model
    • Determined annual and monthly break-even sales volume to interact with model for real-time decision-making
    • Created job costing, which enabled better staffing decisions
    • Provided references for risk manager and insurance broker who favorably resolved insurance losses
    • Hired full-time Controller for everyday management

Cerius Insights

“Both CFO and CIO had great backgrounds, great professional experience and were very easy to work with. No hand holding, very professional and really had a goal and got it done.”

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